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First American Financial Co. (NYSE:FAF) Short Interest Up 21.9% in August

kopsource · Sep 19, 2022 19:41

First American Financial Co. (NYSE:FAF – Get Rating) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 2,060,000 shares, a growth of 21.9% from the August 15th total of 1,690,000 shares. Based on an average daily trading volume, of 638,300 shares, the short-interest ratio is presently 3.2 days. Currently, 2.1% of the company's shares are sold short.

First American Financial Stock Performance

FAF stock traded up $0.54 during midday trading on Monday, hitting $51.10. 620,160 shares of the company's stock were exchanged, compared to its average volume of 759,627. The stock's fifty day moving average price is $55.40 and its 200-day moving average price is $58.31. The company has a market cap of $5.32 billion, a PE ratio of 6.22 and a beta of 1.22. First American Financial has a one year low of $48.81 and a one year high of $81.54.

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First American Financial (NYSE:FAF – Get Rating) last posted its earnings results on Thursday, July 28th. The insurance provider reported $2.23 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.61. The firm had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.12 billion. First American Financial had a return on equity of 15.41% and a net margin of 10.11%. The company's revenue for the quarter was down 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.13 earnings per share. On average, analysts expect that First American Financial will post 6.38 EPS for the current year.

First American Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 8th were paid a $0.52 dividend. This is an increase from First American Financial's previous quarterly dividend of $0.51. The ex-dividend date was Wednesday, September 7th. This represents a $2.08 annualized dividend and a dividend yield of 4.07%. First American Financial's dividend payout ratio (DPR) is currently 25.30%.

Institutional Trading of First American Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. TCI Wealth Advisors Inc. raised its stake in shares of First American Financial by 313.1% in the 1st quarter. TCI Wealth Advisors Inc. now owns 409 shares of the insurance provider's stock valued at $27,000 after purchasing an additional 310 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of First American Financial in the 2nd quarter valued at about $36,000. Brown Brothers Harriman & Co. acquired a new stake in shares of First American Financial in the first quarter valued at about $46,000. EverSource Wealth Advisors LLC acquired a new stake in shares of First American Financial in the second quarter valued at about $50,000. Finally, CX Institutional acquired a new stake in shares of First American Financial in the second quarter valued at about $54,000. Institutional investors and hedge funds own 87.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Barclays decreased their price objective on First American Financial from $87.00 to $83.00 and set an "overweight" rating on the stock in a research report on Monday, July 11th. BTIG Research reduced their price target on First American Financial from $81.00 to $79.00 and set a "buy" rating on the stock in a research report on Friday, July 8th. Finally, Truist Financial reduced their price target on First American Financial from $86.00 to $77.00 and set a "buy" rating on the stock in a research report on Wednesday, July 13th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, First American Financial currently has a consensus rating of "Moderate Buy" and an average price target of $64.68.

First American Financial Company Profile

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First American Financial Corporation, through its subsidiaries, provides financial services. It operates through Title Insurance and Services, and Specialty Insurance segments. The Title Insurance and Services segment issues title insurance policies on residential and commercial property, as well as offers related products and services.